Laurel, MT Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2022. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Laurel, MT Housing Market Trends

With 7,222 people, 2,974 houses or apartments, and a median cost of homes of $271,799, Laurel real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Laurel, accounting for 68.71% of the city's housing units. Other types of housing that are prevalent in Laurel include mobile homes or trailers ( 10.03%), duplexes, homes converted to apartments or other small apartment buildings ( 9.42%), and a few large apartment complexes or high rise apartments ( 9.03%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Laurel. Owner-occupied housing accounts for 67.18% of Laurel's homes, and 55.73% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Laurel built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Laurel built before 1939 ( 23.75%). A lesser amount of the housing stock also hails from between 1940-1969 ( 20.55%). There's also some housing in Laurel built between 2000 and later ( 17.44%).

Laurel Home Appreciation Rates

Appreciation rates for homes in Laurel have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 69.11%, which ranks in the top 40% nationwide. This equates to an annual average Laurel house appreciation rate of 5.39%.

NeighborhoodScout's data show that during the latest twelve months, Laurel's appreciation rate, at 17.90%, has been at or slightly above the national average. In the latest quarter, Laurel's appreciation rate has been 2.73%, which annualizes to a rate of 11.38%.

Relative to Montana, our data show that Laurel's latest annual appreciation rate is lower than 90% of the other cities and towns in Montana.

Average Home Values

 

Median Home Value:
$271,799

Laurel, MT HOME PRICES

> $1,330,000
$997,001 - $1,330,000
$665,001 - $997,000
$532,001 - $665,000
$399,001 - $532,000
$266,001 - $399,000
$133,001 - $266,000
$67,001 - $133,000
$0 - $67,000
0.0%
0.0%
0.9%
0.9%
2.5%
2.5%
5.8%
5.8%
7.7%
7.7%
36.4%
36.4%
36.4%
36.4%
2.7%
2.7%
7.6%
7.6%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Low for MT

Value Relative To Nation

Number Of Homes And Apartments:
2,974

Laurel Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MT*
Compared To
America*
Latest Quarter:
2021 Q4 - 2022 Q1
Last 12 Months:
2021 Q1 - 2022 Q1
Last 2 Years:
2020 Q1 - 2022 Q1
Last 5 Years:
2017 Q1 - 2022 Q1
Last 10 Years:
2012 Q1 - 2022 Q1
Since 2000:
2000 Q1 - 2022 Q1
168.15% 4.53%
2
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,285 / per month

Homeownership Rate

Owners
Renters
Vacant
67.2%
67.2%
32.8%
32.8%
3.8%
3.8%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
17.4%
17.4%
38.3%
38.3%
20.6%
20.6%
23.8%
23.8%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
68.7%
68.7%
2.8%
2.8%
9.4%
9.4%
9.0%
9.0%
10.0%
10.0%
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.2%
1.2%
12.0%
12.0%
27.3%
27.3%
43.2%
43.2%
12.5%
12.5%
3.8%
3.8%
0.0% 100.0%
% OF HOMES

Popular Neighborhoods in Laurel

Popular Communities Near Laurel, MT

Zip Codes in Laurel, MT